Aave, Yearn Finance Suffer Flashloan Attack, Lose Over $10M

According to Lookonchain, Aave and Yearn Finance suffered a flashloan attack, and the hacker has stolen more than $10 million in stablecoins.

Aave team member Marc Zeller said on Twitter that only Aave V1 was affected, which has been frozen since December 2022. No user can deposit or increase borrow size. Aave will start a snapshot vote in a few hours to decide whether to offboard V1 or not. The current size of V1 is $18 million, while the current size of the Aave safety module is $382.5 million.

According to TokenInsight data, the price of $YFI dropped 4.49% over the last hour, trading at $8,913.84 now.